Oriole, Inc. has $10300$ shares of $7\%,$$$100$ par value, cumulative preferred stock and $103000$ shares of $$1$ par value common stock outstanding at December $31,2021.$ If the board of directors declares a $$72100$ dividend, the

$$72100$ will be held as restricted retained earnings and paid out at some future date.

preferred shareholders will receive $$36050$ and the common shareholders will receive $$36050.$

preferred shareholders will receive the entire $$72100.$

preferred shareholders will receive $\frac{1}{10}$ th of what the common shareholders will receive.